Recruiter Robert Walters returns to growth as UK net fees jump 10% after deep job cuts

Robert Walters has reported a 10% year-on-year rise in UK net fees to £13.2 million in the quarter to September 30, driven by a strong performance in permanent hiring and a 19% surge in recruitment outsourcing. Wednesday's trading update sent shares up more than 6%. The recovery follows a £19.6 million loss in 2025 that forced the firm to reduce its global headcount by around 15%.

Fee-earning roles in the UK were cut by a quarter last year, and the firm has since lifted its annual savings target to at least £12 million by 2027.

Chief executive Toby Fowlston said the changes being made are having a "positive impact", from stronger leadership in key markets to improved net fee productivity.

European net fees fell 7% to £17.7 million in the quarter to June 30, with Asia Pacific also slipping slightly, leaving the UK as the standout driver of the group's return to growth.